In the present work, a detailed investigation of the physio-chemical characteristics of grapeseed methyl ester (GSME) obtained from winery biomass waste has been carried out to evaluate its suitability as an energy alternate, for CI engines. GSME was subjected to Gas chromatography and mass spectrometry analysis from which fatty acids compositions were determined followed by other interpretations such as carbon number, number of double bonds, etc. Two different predictive correlations were identified from the literature for predicting the properties that are considered important, for using GSME as a fuel. The predicted properties of GSME are compared with the experimental results obtained through standard ASTM procedures, for diesel, neat grapeseed oil (GSO) and GSME, respectively. Further, the influence of the structural and compositional characteristics of GSME on the physicochemical properties like density, kinematic viscosity, lower calorific value, etc. has been evaluated and found to be closer to diesel.